Mich. Admin. Code R. 388.11

Current through Vol. 24-19, November 1, 2024

Section R. 388.11 - Interest rates on qualified loans

Rule 11.

(1) All qualified loans shall bear interest as defined in section 9(8) of the act, MCL 388.1929.

(2) The department shall recalculate the interest rate on all qualified loans at least quarterly.

(3) Interest on all qualified loans shall be compounded annually on September 30.

Mich. Admin. Code R. 388.11

2007 AACS; 2014 AACS; 2022 MR 3, Eff. 2/15/2022